Bankruptcy in Poland, Insolvency in Poland

If your Polish debtor declared bankruptcy, you must submit your claim before a Polish bankruptcy court, if you fail to do this, you will lose the possibility of recovery in the future. 

Issues related to reporting a claim in bankruptcy of a Polish company (entrepreneur) are regulated by the Polish Bankruptcy and Reorganisation Law of 28 February 2003.

Polish bankruptcy court issuing the decision on bankruptcy of the company calls the creditors to lodge the claims within the prescribed period, not shorter than one month and not longer than three months. 

If you have not received the call, contact us immediately.  

Submission of claims in the Polish bankruptcy proceedings is considered as a form of debt recovery provided by the law. Failure to report the claim results in loss of the possibilities to satisfy it from bankruptcy assets. Each creditor must report the claim to the Polish bankruptcy court. Only creditors who's claims are secured on the assets of the bankrupt (by lien, pledge or mortgage) will be placed on the list automaticaly - ex offcio. However, it is almost a rule that they also submit their claims to the bankruptcy court, not to lose their opportunity to recover the debt. 

Submission of claims should be regarded as a form of pursing it under court proceedings, and the approval of the list of claims - as the decision (court judgement). Submitting of claim interrupts the limitation period of the claim.

The claim should be made in writing in two copies. Unfortunately, the Polish law is very formalized and poses a number of specific requirements. Fulfilment of the legal requirement is frequently very complicated. Lodgement of the claim not meeting with requirements will be rejected by the court and will not have any legal effect.  

Generally, the lodgement may be also made after expiry of the submitions period. The court will require the creditor to cover additional costs resulting from the late submission regardless of the reason of delay. These additional costs include in particular the costs of taking evidence, the costs of notices, the costs of the appeal. However, if the lodgement occurs after approval of the final plan of the division of the bankruptcy funds, the claim will be rejected. (Article 252 paragraph 2, bankruptcy and reorganisation law). 

If you are informed that your Polish debtor can be declared bankrupt, please contact us to check, and if that is the case we will file the claim before bankruptcy court.